Millennials are individuals born between 1981 and 1997, and most of them are by now participating in the workforce. Consequently, they have a disposable income to contribute to the country’s economy. If you are a real estate agent, this is a demographic you should definitely tap into.
But since millennials are utterly reliant on technology, the Internet specifically, they have become informed customers who can easily Google “Lancaster review” to gauge whether what you are selling is worth their investment. It pays that you stay transparent in your marketing practices to earn their trust and enjoy these two advantages of having them as clients.
They are ready and able to spend
Millennials have enough disposable income to sustain an industry. Case in point: food and restaurant trends that are heavily driven by millennial spending. This is due to millennials’ open-mindedness. They are always looking into ways to improve their lifestyle, and if prompted by the right reasons, this open-mindedness could branch out to other industries such as real estate. As a real estate agent, you have the power to inspire this.
They are financially responsible
A lot of misconceptions have been attached to millennials as a demographic. One such misconception is that they are financially illiterate. A survey reported by CNBC showed that millennials are actually better than Gen Xers and baby boomers money-wise. If you are a real estate agent wanting to maximize the potentials of this market, this finding should be reassuring. It means millennials as clients will not fail you in terms of making appropriate payments.
The Philippines is currently hailed as one of the most promising hubs in terms of real estate business. As an agent and stakeholder in this industry, you can do your part in boosting this reality even further. One way is to tap into emerging markets, such as millennials.